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The Deal
- Earn 2% or 3% bonus cashback on all spend up to $2,000 on your Discover card.
Key Terms
- Expires December 15, 2020.
- Activation required – link is in targeted email.
- Rewards are added to your Cashback Bonus account within two billing periods.
Tips & Ideas
I received a heads up about this from a reader an hour ago. My wife and I have subsequently received an email about the offer too, so it seems like they’re rolling it out, so hopefully you’ll be targeted even if you haven’t received an email just yet.
My wife was targeted for the 3% version which means she can earn up to $60 bonus cashback, while I received the 2% version which makes my maximum bonus cashback amount $40.
The great thing is that this bonus cashback is on top of what you’re already earning. That means you’ll earn a total of 3% or 4% cashback for everyday spend up to $2,000, or 7%/8% for spending at Amazon.com, Walmart.com and Target.com this quarter which is an excellent return. Note that those 5% categories have a 5% limit of $1,500, so you’d earn a total of 7% or 8% on that first $1,500, then 3% or 4% on the final $500 of spend if maxing out the $2,000 limit.
What would be even better is if cardholders in their first year are targeted for this promotion. That’s because Discover doubles the cashback earned in the first year which would presumably apply to this promotion too. If so, that means you could earn up to 14% or 16% in spend which is an incredible return.
h/t Eugene
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